Spot EUR/USD Forecast for 03/12 by Daytradeideas.com

  on March 12 2013 8:24 AM

EURUSD reached resistance at 1.3041 & over ran slightly to 1.3054. A push through 1.3045/54 does look possible today for a crawl higher to 1.3094, possibly a retest of 1.3134/37 which would be expected to cap a move to the upside.1.2965/55 support marked the low last week. A break today however cannot be ruled out in this down trend, to target 1.2890/80 & if this fails we should test the 200 day MA at 1.2862. We will be watching for a bounce in this area today.

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Long term levels1.3711     2013 High1.3525     200 Week Moving Average1.3486     2012 High1.3327     100 Week Moving Average1.3134     Last week’s high1.3127     100 Week Moving Average1.2955     Last week’s Low1.2877     50% Fibonacci1.2860     200 Day Moving Average

 

The article was first published by DayTradeIdeas.com

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